EverestIMS Technologies Limited receivables rose to Rs 51.96 crore

EverestIMS Technologies Limited reported trade receivables of Rs 51.96 crore at March 31, 2026, equal to 79.8% of FY26 revenue from operations of Rs 65.12 crore. The receivables increase absorbed Rs 15.36 crore of operating cash during FY26, despite restated profit after tax of Rs 13.14 crore.

Why did EverestIMS receivables rise to Rs 51.96 crore in FY26?

EverestIMS receivables rose to Rs 51.96 crore because the balance increased by Rs 15.40 crore during FY26, while revenue from operations increased by Rs 8.58 crore. Trade receivables were Rs 36.56 crore at March 31, 2025 and Rs 30.70 crore at March 31, 2024. The FY26 closing balance was 42.7% above FY25, compared with a 15.2% rise in FY26 revenue to Rs 65.12 crore from Rs 56.54 crore.

The receivables-to-revenue relationship changed across the three reported years. Receivables equalled 67.9% of FY24 revenue of Rs 45.23 crore, fell to 64.7% in FY25 and then rose to 79.8% in FY26. This comparison uses a year-end asset balance against revenue recorded over each full financial year, so it indicates the amount awaiting collection at the reporting date rather than a contractual collection period.

EverestIMS recognises service income on a time-proportion basis and defers subscription and service-contract revenue covering future periods until related services are rendered. Amounts received but not earned are recorded as unearned revenue, a liability, under this policy. The Rs 51.96 crore trade-receivable balance is therefore distinct from customer advances of Rs 6.20 crore under other current liabilities at March 31, 2026.

What does the FY26 receivables ageing show about collection timing?

EverestIMS classified Rs 47.46 crore, or 91.3% of FY26 trade receivables, as undisputed and outstanding for less than six months from the payment due date. The remaining Rs 4.50 crore was outstanding for more than six months, including Rs 2.28 crore for one to two years, Rs 1.11 crore for two to three years and Rs 12.75 lakh for more than three years. The filing classifies all receivables as unsecured and considered good, with no disputed or doubtful trade receivables disclosed.

The ageing mix improved even as the total balance expanded. Receivables outstanding for more than six months declined to Rs 4.50 crore in FY26 from Rs 13.30 crore in FY25, while the less-than-six-month balance rose from Rs 23.26 crore to Rs 47.46 crore. The FY25 balance outstanding for six months to one year was Rs 9.37 crore, compared with Rs 98.05 lakh in FY26.

The FY26 increase was concentrated in recently due balances rather than categories older than six months. That classification does not establish when the Rs 47.46 crore will be collected. The year-end balance will persist if new billed and earned revenue continues to outpace collections, while it will reduce if collections on recent receivables exceed additions to the trade-receivable ledger.

How did receivables affect EverestIMS operating cash flow?

EverestIMS generated Rs 9.20 crore of net cash from operating activities in FY26 after a Rs 15.36 crore cash outflow attributed to the increase in trade receivables. Operating profit before working-capital changes was Rs 23.58 crore, meaning the receivable movement alone used 65.1% of that pre-working-capital amount. In the cash-flow statement, an increase in operating assets is deducted because it represents revenue or other activity not yet converted into cash.

The FY26 receivable outflow was larger than the Rs 5.87 crore outflow in FY25 and the Rs 10.86 crore outflow in FY24. Other FY26 working-capital movements partly offset it: trade payables contributed Rs 6.45 crore of cash, and other current liabilities and provisions added Rs 1.14 crore. Other current assets, including other bank balances, used a further Rs 7.05 crore of cash.

EverestIMS spent Rs 9.49 crore on property, plant, equipment and intangible assets in FY26, including Rs 9.03 crore of additions to software assets. After Rs 8.76 crore of net investing cash outflow and Rs 1.94 lakh of financing outflow, cash and cash equivalents increased by Rs 42.50 lakh to Rs 2.57 crore. Cash and cash equivalents exclude Rs 5.09 crore of fixed deposits reported as other bank balances.

How does the receivable balance compare with EverestIMS current assets and profit?

EverestIMS held Rs 66.42 crore of current assets at March 31, 2026, of which trade receivables represented 78.2%. Cash and bank balances were Rs 7.65 crore, short-term loans and advances were Rs 1.13 crore, current investments were Rs 75.86 lakh and other current assets were Rs 4.91 crore. Other current assets included Rs 2.63 crore of unbilled revenue, which is reported separately from trade receivables.

EverestIMS reported FY26 profit after tax of Rs 13.14 crore, down from Rs 14.08 crore in FY25, even as revenue rose by Rs 8.58 crore. Profit before tax was Rs 17.64 crore in FY26 versus Rs 18.85 crore in FY25. The cash-flow statement starts with pre-tax profit, then adjusts it for non-cash items and working-capital changes, showing why accounting profit and operating cash flow are separate measures.

Domestic software-product sales were Rs 46.76 crore in FY26 and export software-product sales were Rs 3.30 crore, together accounting for Rs 50.06 crore of the Rs 65.12 crore revenue total. Domestic and export services added Rs 9.18 crore and Rs 63.28 lakh, respectively. The filing reports no hardware-product revenue for FY26, whereas it lists Rs 5.25 crore of domestic hardware-product revenue in FY25.

Conclusion

EverestIMS entered FY26 with a larger amount of revenue represented by trade receivables: Rs 51.96 crore at year-end, or 79.8% of annual revenue, compared with 64.7% a year earlier. The balance’s age profile shifted toward receivables outstanding for less than six months, but the increase still consumed Rs 15.36 crore of operating cash and contributed to the difference between Rs 13.14 crore of reported profit after tax and Rs 9.20 crore of operating cash flow.

The next financial updates should show whether the Rs 47.46 crore of receivables classified as less than six months converts into cash and whether unbilled revenue of Rs 2.63 crore is invoiced and collected. EverestIMS has set its normal operating cycle at 12 months for current-versus-non-current classification, making subsequent balances and ageing disclosures the relevant measures of whether the FY26 working-capital level is maintained or reduced.